Relative Strength Egg Producer Sets up Breakout to Highs
Cal Maine Foods (CALM) shares of the egg producer show great relative strength and formed a bull flag the past month near recent highs, closing strong on Tuesday right at monthly value area high. A break above 114 is likely pushed to new highs over 116.50 with the 120 being a solid Fibonacci extension level to target from here. CALM is seeing momentum extend the uptrend with recent talk of the bird flu, making egg prices rise. May $105 calls still holding 800 in OI.